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Case Study One: Initial Two Year Performance Improvements
Situation: Rolling out a new client often leads to feedback such as “We didn’t know that question mattered so much to our residents.” We point out that this is a common first year client comment, and the real value comes over the next year with focusing on the satisfaction and retention drivers we share are most critical.
- The end result is that clients typically see a noticeable increase in the percent of residents citing that they are “very likely” to renew.
- Likewise, an increase in renewal likelihood typically leads to a noticeable reduction in actual turnover. This is validated by the results from the client satisfaction survey SatisFacts conducts with its clients each year: the annual resident turnover rates reported by clients is 9.5 points below the national average shown in the NAA annual Income and Expense Survey.
- The following are examples of changes seen by new clients during their first two years working with SatisFacts.
|
| Client |
Approximate Portfolio Size (units) |
Outstanding Service Issues |
Overall Satisfaction Score |
Percent "Very Likely to Renew" |
Potential Reduced Turnover (units) |
Potential Increased NOI (dollars) |
| Regional Portfolio |
2,500 |
|
|
|
|
|
| Year 2 |
|
12% |
4.15 |
62% |
525 |
$1,575,000 |
| Year 1 |
|
35% |
3.78 |
41% |
|
|
|
| National Portfolio |
12,000 |
|
|
|
|
|
| Year 2 |
|
19% |
4.16 |
59% |
1,320 |
$3,960,000 |
| Year 1 |
|
26% |
3.98 |
48% |
|
|
|
| Regional Portfolio |
5,000 |
|
|
|
|
|
| Year 2 |
|
31% |
3.90 |
63% |
300 |
$900,000 |
| Year 1 |
|
34% |
3.79 |
57% |
|
|
|
| Regional Portfolio |
3,500 |
|
|
|
|
|
| Year 2 |
|
20% |
4.30 |
65% |
525 |
$1,575,000 |
| Year 1 |
|
28% |
4.17 |
50% |
|
|
|
| National Portfolio |
9,600 |
|
|
|
|
|
| Year2 |
|
29% |
4.26 |
56% |
288 |
$864,000 |
| Year 1 |
|
32% |
4.20 |
53% |
|
|
|
| Regional Portfolio |
5,100 |
|
|
|
|
|
| Year 2 |
|
24% |
4.18 |
59% |
204 |
$612,000 |
| Year 1 |
|
30% |
4.15 |
55% |
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